Monthly Metal Review

Copper

In London, Copper prices decreased of 1.12 % to US$ 7’100.50 a tonne with a contango of US$ 39.50 at the end of this month. Antofagasta produced 704,300 tonnes of copper last year, in line with guidance and 0.7 percent lower than in 2016, the UK- listed Chilean miner said. The on-year drop was due to expected lower grades at the Los Pelam-bres and Centinela mines, offset by the Encuentro Oxides project coming into production in October and ramp-up at the Antucoya mines. Cash costs for 2017 were US$1.25 per pound, 4.2 percent higher than in 2016 but below guidance. Group production in 2018 should be 705,000-740,000 tonnes, up 1- 5 percent on-year. Zambia’s government said it expects to collect more revenue in 2018 from mining companies after cop-per rose above US$7,000. The revenue authority said it was targeting a revenue-to-GDP ratio of 17 percent, up from last year’s 16.8 percent. It collected net revenue of US$54.60 million, 4.1 percent above the annual budget target. Zambia is Africa’s second-largest copper producer, after the Democrati Republic of Congo. In the U.S., the Trump Administration’s Environmental Protection Agency reversed its strong support for North-ern Dynasty Minerals’ massive Pebble mine project in Alaska, one of the world’s largest. The EPA now supports Obama-era restrictions on the US$5-billion proposed open-pit copper-gold project. The EPA said the mine’s risk to the Bristol Bay wild-salmon spawning area is too great, at least for now. Bristol Bay has the worlds largest sockeye salmon fishery, producing about half of the global wild-salmon supply. Turquoise Hill (51% owned by Rio Tinto) halted all cop-per concentrate shipments from its Oyu Tolgoi copper-gold operations in Mongolia after a week of China-border trucking disputes and a new, US$155-million tax bill from the Mongolian-government. Rio’s Turquoise Hill subsidiary had declared force majeure for Oyu Tolgoi customer deliveries on trucking problems. LME copper stocks increased to 305’575.00 tonnes in January.

Daily Prices

January 2018

Copper
Date(Fix.) ($/MT)
Average 7080.30
31-01-2018 7100.5
30-01-2018 7049
29-01-2018 7062
26-01-2018 7063.5
25-01-2018 7112
24-01-2018 6943
23-01-2018 6905
22-01-2018 7049
19-01-2018 7079
18-01-2018 7047
17-01-2018 7047
16-01-2018 7023
15-01-2018 7180
12-01-2018 7070.5
11-01-2018 7123
10-01-2018 7140.5
09-01-2018 7092
08-01-2018 7084.5
05-01-2018 7097
04-01-2018 7202.5
03-01-2018 7115.5
02-01-2018 7181
Silver
Date(Fix.) ($/OZ)
Average 17.17
31-01-2018 17.23
30-01-2018 17.295
29-01-2018 17.335
26-01-2018 17.4
25-01-2018 17.52
24-01-2018 17.19
23-01-2018 16.98
22-01-2018 17.035
19-01-2018 17.04
18-01-2018 17.09
17-01-2018 17.21
16-01-2018 17.095
15-01-2018 17.325
12-01-2018 17.12
11-01-2018 17.01
10-01-2018 17.135
09-01-2018 17.055
08-01-2018 17.17
05-01-2018 17.155
04-01-2018 17.13
03-01-2018 17.125
02-01-2018 17.06
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1332.81
31-01-2018 1343.35
30-01-2018 1345.7
29-01-2018 1348.4
26-01-2018 1354.35
25-01-2018 1360.25
24-01-2018 1350.5
23-01-2018 1337.1
22-01-2018 1334.15
19-01-2018 1335.8
18-01-2018 1329.75
17-01-2018 1337.35
16-01-2018 1334.95
15-01-2018 1343
12-01-2018 1332.9
11-01-2018 1319.85
10-01-2018 1321.65
09-01-2018 1314.95
08-01-2018 1318.8
05-01-2018 1317.9
04-01-2018 1313.7
03-01-2018 1314.6
02-01-2018 1312.8
Date(Fix.) ($/OZ)
Average 1332.24
31-01-2018 1344.2
30-01-2018 1345.3
29-01-2018 1346.125
26-01-2018 1353.75
25-01-2018 1357.6
24-01-2018 1352.1
23-01-2018 1335.25
22-01-2018 1333.375
19-01-2018 1335.375
18-01-2018 1330.975
17-01-2018 1336.5
16-01-2018 1334.4
15-01-2018 1341.125
12-01-2018 1329.85
11-01-2018 1321.45
10-01-2018 1320.7
09-01-2018 1312.975
08-01-2018 1319.375
05-01-2018 1317.525
04-01-2018 1314.1
03-01-2018 1314.75
02-01-2018 1312.425
Date(Fix.) ($/OZ)
Average 1331.67
31-01-2018 1345.05
30-01-2018 1344.9
29-01-2018 1343.85
26-01-2018 1353.15
25-01-2018 1354.95
24-01-2018 1353.7
23-01-2018 1333.4
22-01-2018 1332.6
19-01-2018 1334.95
18-01-2018 1332.2
17-01-2018 1335.65
16-01-2018 1333.85
15-01-2018 1339.25
12-01-2018 1326.8
11-01-2018 1323.05
10-01-2018 1319.75
09-01-2018 1311
08-01-2018 1319.95
05-01-2018 1317.15
04-01-2018 1314.5
03-01-2018 1314.9
02-01-2018 1312.05
Lead
Date(Fix.) ($/MT)
Average 2589.77
31-01-2018 2624
30-01-2018 2620.5
29-01-2018 2643
26-01-2018 2604
25-01-2018 2621
24-01-2018 2612
23-01-2018 2610
22-01-2018 2607
19-01-2018 2608
18-01-2018 2581
17-01-2018 2555
16-01-2018 2542.5
15-01-2018 2582
12-01-2018 2536
11-01-2018 2572
10-01-2018 2596
09-01-2018 2608
08-01-2018 2566
05-01-2018 2590
04-01-2018 2573
03-01-2018 2580
02-01-2018 2544
Zinc
Date(Fix.) ($/MT)
Average 3447.20
31-01-2018 3589.5
30-01-2018 3584.5
29-01-2018 3609.5
26-01-2018 3526
25-01-2018 3482
24-01-2018 3428
23-01-2018 3443
22-01-2018 3441
19-01-2018 3463
18-01-2018 3410
17-01-2018 3445
16-01-2018 3429
15-01-2018 3474
12-01-2018 3420
11-01-2018 3420
10-01-2018 3381
09-01-2018 3401
08-01-2018 3391.5
05-01-2018 3396
04-01-2018 3377
03-01-2018 3350.5
02-01-2018 3377
Tin
Date(Fix.) ($/MT)
Average 20710.68
31-01-2018 21900
30-01-2018 22050
29-01-2018 22105
26-01-2018 22005
25-01-2018 21345
24-01-2018 21145
23-01-2018 20830
22-01-2018 20770
19-01-2018 20685
18-01-2018 20575
17-01-2018 20525
16-01-2018 20355
15-01-2018 20450
12-01-2018 20275
11-01-2018 20245
10-01-2018 20035
09-01-2018 20075
08-01-2018 19960
05-01-2018 20020
04-01-2018 20075
03-01-2018 20050
02-01-2018 20160
Nickel
Date(Fix.) ($/MT)
Average 12880.23
31-01-2018 13555
30-01-2018 13650
29-01-2018 13890
26-01-2018 13750
25-01-2018 13695
24-01-2018 13000
23-01-2018 12750
22-01-2018 12720
19-01-2018 12595
18-01-2018 12455
17-01-2018 12415
16-01-2018 12415
15-01-2018 12835
12-01-2018 12670
11-01-2018 12835
10-01-2018 12900
09-01-2018 12515
08-01-2018 12450
05-01-2018 12500
04-01-2018 12615
03-01-2018 12465
02-01-2018 12690
Cobalt
Date(Fix.) ($/MT)
Average 77750.00
31-01-2018 80250
30-01-2018 80250
29-01-2018 80250
26-01-2018 80250
25-01-2018 80000
24-01-2018 80000
23-01-2018 80000
22-01-2018 80000
19-01-2018 80500
18-01-2018 77000
17-01-2018 77000
16-01-2018 77000
15-01-2018 78500
12-01-2018 75500
11-01-2018 75500
10-01-2018 75500
09-01-2018 75500
08-01-2018 75500
05-01-2018 75500
04-01-2018 75500
03-01-2018 75500
02-01-2018 75500